Axsome Therapeutics Inc. (NASDAQ:AXSM) reported fourth-quarter results that topped analyst forecasts, although the company’s shares fell 2.03% in premarket trading following the announcement.
The biopharmaceutical company posted a quarterly loss of $0.56 per share, outperforming the consensus expectation for a loss of $0.73 per share.
Revenue for the quarter came in at $196.0 million, exceeding analyst estimates of $189.81 million and marking a 65% increase from $118.8 million recorded in the same period a year earlier.
For the full year 2025, Axsome generated total net product revenue of $638.5 million, representing a 66% year-over-year increase compared with $385.7 million in 2024.
Sales of the company’s lead product AUVELITY reached $155.1 million in the fourth quarter, rising 68% year over year. SUNOSI contributed $36.7 million in revenue, up 40%, while newly launched SYMBRAVO recorded $4.1 million in quarterly sales.
“Our fourth quarter and full year 2025 results demonstrate strong commercial momentum across our marketed products, and advancement and expansion of our innovative CNS pipeline,” said Herriot Tabuteau, MD, Chief Executive Officer.
On the regulatory front, the U.S. Food and Drug Administration granted Priority Review status to the company’s supplemental new drug application for AXS-05 as a treatment for Alzheimer’s disease agitation, with a target action date of April 30, 2026.
Axsome also said it plans to submit a new drug application for AXS-12 for narcolepsy later this quarter.
For the full year, the company reported a net loss of $183.2 million, or $3.68 per share, narrowing from a loss of $287.2 million, or $5.99 per share, in 2024. Cash and cash equivalents totaled $322.9 million as of December 31, 2025, which management believes will support operations until the company reaches cash-flow positivity.